Are you asking for information on how to do a rehab on this home so that it can be ready to sell "as is, all fixed up?" Or do you want information on a buyer's loan to purchase it "as is," and do a rehab?

The guidelines state that the property cannot be listed for more than 20% above purchased price. (Worded differently than actual guidelines, but to simplify explanation).

To get past that guideline, lender's are doing "exceptions" to that rule by asking the investor to provide receipts showing the upgrades put into the property to resell. Many lender's look at it differently, but the bottom line is that the investor's are fixing the properties up, which in turn is rehabbing many run down neighborhoods, and should get credit for those monies.

Many times, when the receipts are added to the "purchase" price, it reduces the 20% guideline, therefore an
"exception", and the loan is approved.

Beyond that, some lender's are also requiring "2" appraisals to substantiate the list price.

Is it a total teardown? if so, you should sell for land value. If not, what is the extent of the damage and can it be repaired? I'll be happy to discuss with you your options.
Naima
214-289-8555
Naima@Sumner-Realty.com... more

optinon basically means that they buyer in basically doing inspections and still can back out and receive earnest money. at the under contract or pending contract phase, basically all options periods have ended and the contract is waiting to close. if the sell is cancelled at this point it has to be mutually agreed upon or someone will be in violation of the contract

That's not an easy question to answer because there are singly family homes and then the townhomes. Which do you have?

Townhomes are the toughest to resell right now because there is lots of competition from the builders still, and they are going to be there for a while. There are 51 listed on the market in La Villita right now ranging from 1600SF to 2500SF. The DOM would be very difficult to figure out because builders have these put in the MLS before they are built and even if they have a contract on them, they don't change the status until it sells...

However the resale ones, there has only been one in the entire 2007 year and it was on the market for 245 days.

On the single family homes, there are right now 9 homes in the MLS...ranging from 1600-3900SF. Of those 9, 5 are resale. They have been on the market for 25, 135, 59, 97 and 18 days and counting.

There has been also 9 resale homes in 2007 with the following DOM 82, 15, 29, 243, 617, 191, 16 and 7.
All these homes ranged from 2700 to 3800SF.

I hope this helps. Let me know if you want a more detailed market analysis for your house.... more